… As Well as by Zhang Investor Law

Zhang Investor Law P.C. announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Carbonite, Inc. from February 7, 2019 through July 25, 2019, inclusive.

The lawsuit seeks to recover damages for Carbonite investors under the federal securities laws.

Defendants throughout the class period made false and/or misleading statements and/or failed to disclose that:
(1) Carbonite’s Server Backup VM Edition was of poor quality and technologically flawed;
(2) Carbonite was receiving poor reviews and complaints from customers about the Server Backup VM Edition;
(3) the poor quality and technological flaws of the Server Backup VM Edition were acting as a “disruptive” factor throughout the Carbonite salesforce and keeping that sales organization from closing opportunistically on several larger deals during fiscal 2019; and
(4) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

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As Server VM Edition, launched in October 2018, was technically substandard, of poor quality, and being rejected by customers.
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